Thursday , October 19 2017
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Massachusetts Says It Will Get Over $100M Annually from Marijuana Taxes

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The expectations in Massachusetts are high, especially when it comes to recreational marijuana tax revenue. Massachusetts can potentially gain $100 million in annual revenue from the legal marijuana market. Now, these estimates are provided for the established market, the brand new market won’t see this much revenue – at least it’s not expected.

Marijuana taxes aren’t the only topic of discussion in Massachusetts, according to Boston Globe. The debate regarding rules and regulations and changes to the voter-approved legislation is heating up as well. Some state lawmakers don’t want the will of the people destroyed.

Some lawmakers are struggling with the complexity of marijuana legalization. Others worry about balancing all of the responsibilities.

Senator Linda Dorcena Forry said, “We recognize that folks want it legalized. But we want to make sure it’s done in a safe manner.”

The state Legislature has the ability to amend any state law. One of the benefits of Massachusetts is that fooling around with voter-approved initiatives is not something the state does often. Most lawmakers prefer to leave these things alone, especially with this industry.

Some want to change the tax structure before the markets even open.

Seih Samura said, “It’s premature to start looking to tweak and change these rules before there’s a market that has been created.”

Even with some communities wanting marijuana legalization repealed, Representative Mark Cusack reminded members of his local community that he will not advocate for repeal.

Cusack said, “My hometown of Braintree did not support this. People tell me in Braintree, ‘Oh now you’re the chair, you’re going to ban it because we didn’t vote for it?’ I say, ‘That’s not in the job here. We’re implementation and regulation. We’re not going to rehash the debate.’’